Gateway Investment Advisers LLC Sells 124 Shares of MercadoLibre, Inc. $MELI

Key Points

• Gateway Investment Advisers LLC reduced its stake in MercadoLibre, Inc. by 4.3% in Q2, now holding 2,768 shares valued at approximately $7.24 million.
• MercadoLibre's recent earnings report revealed a net margin of 8.52% and revenue of $6.79 billion, surpassing analysts' expectations of $6.57 billion.
• Analysts have varying target prices for MercadoLibre, with Jefferies at $2,800 and Citigroup adjusted to $2,850, resulting in a consensus rating of "Moderate Buy".

Gateway Investment Advisers LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,768 shares of the company's stock after selling 124 shares during the period. Gateway Investment Advisers LLC's holdings in MercadoLibre were worth $7,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Key Financial Inc acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter valued at $25,000. Close Asset Management Ltd lifted its position in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Park Square Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter worth about $26,000. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Susquehanna restated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded down $24.03 during trading on Friday, reaching $2,452.34. 416,882 shares of the company traded hands, compared to its average volume of 367,642. The firm has a 50 day simple moving average of $2,382.11 and a 200-day simple moving average of $2,317.99. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $124.33 billion, a PE ratio of 60.57, a P/E/G ratio of 1.60 and a beta of 1.49. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the previous year, the business posted $10.48 EPS. The business's quarterly revenue was up 33.8% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.